According to Pulse, at a time when Warren Buffett was just beginning his career as a investor, he read from 600 to 1000 pages per day. Now a well-known entrepreneur spends reading to 80% of their time. “My job, essentially, is to match a set of facts and data, to see how they interact,” said Buffett himself in an interview. The editors have studied Pulse interview Buffett for the last 20 years and contributed 17 books entrepreneur recommended reading during these conversations.
This book Buffett read when he was 19 years old. According to the businessman, the labor helped him to build “an intelligent platform for further development as an investor”. To become successful in business, says Buffett, the necessary intellectual framework for making decisions. That is the basis and gave him the book. According to Warren Buffett, another Graham work actually helped him to draw up a “map” of investments that he should have 57 years.
According to the entrepreneur, Benjamin Graham — the second most influential figure for him after his father Buffett. “Ben was a great teacher,” says the billionaire. Philip Fischer specializes in investments in innovative companies. Despite the fact that in the life of Buffett, he is not such a place as Benjamin Graham, the entrepreneur appreciates his work. “Im ready to read everything that Phil wants to say with his books, and recommend you do the same thing,” he says.
In “Common stocks and uncommon profits” Fisher explains why it is important to monitor not only the financial statements of the company, but also to study the principles of management, who uses her leadership. Warren Buffett believes that this book from the former Secretary of the Treasury about the financial crisis must read for every Manager. “How to run a business in difficult times, many books have been written. But this book outlines the management strategy in hard times the whole country — and is thus written to people who were doing”.
“If you want to understand the thinking of Warren Buffett, you should read the book the Warren Buffett,” writes the editor of Pulse. One of the ideas from this book. “What could be better than to be in intellectual competition (be it chess or trading in securities) of the enemy, which is convinced that meditation is a waste of time?”. This book Warren Buffett mentions in the letter to shareholders of his company, written in 2001.
Jack Welch — former top-Manager of Corporation of General Electric — Buffett describes as a smart and energetic person. According to the publication Bloomberg, the experience of Welch will be useful to any Manager — so great is the influence he has had on the modern business environment. Buffett strongly recommends that a copy of his book. The labor Thorndike Buffett also mentioned in a letter to shareholders in 2012. The billion notes that this book is “a wonderful story about managers who have distinguished themselves particularly reasonable allocation of capital”.
One of the chapters of the book are devoted to the businessman Tom Murphy — Buffett calls him the best Manager from those that he knew. John Bogle — the founder of a major American investment company Vanguard Group, which manages assets worth more than $3 trillion. In his book he reveals the idea that long-term investments in the global market has forced out short-term speculation — citing both theoretical and practical examples and evidence. In addition, Bogle gives some valuable advice to novice and experienced investors — for example, calls to always remember that what is in fashion today may not necessarily be as popular tomorrow. In 1991, writes edition of the Pulse, the founder of Microsoft, bill gates asked Buffett to tell about your favorite book.
In response, the billionaire sent gates a copy of “Business adventures”. According to bill gates, this book serves as a reminder that whatever happens, principles of business always remain the same. The founder of Microsoft writes. “On the one hand, in any business there is the human factor. But it doesnt matter if you have a great product, plan its development and accurate marketing strategy.
However, you still need good people to implement those plans”. In his letter to shareholders in 2006 Buffett called this book “the funniest ever written works on investment”. “Shes in an easy manner conveys to the reader a lot of really important messages,” says the billionaire. The book was first published in 1940. “It is filled with anecdotes from wall street, but remains relevant and wise even today,” writes the editor of the Pulse.
“Even despite the fact that it works from the legendary economist was published more than a century ago, it still remains one of the books, must reading for financiers,” writes Pulse. One of the most famous works of Keynes in “Economic possibilities for our grandchildren” in which he suggested that todays generation will be able to work for only 15 hours per week. Buffett believes that Keynes essay can really help them to understand how securities market. In a letter to shareholders, written in 2014, Buffett invites all who are drawn to financial advisors, instead, to read “Guide reasonable investor,” Bogle. In the book, the author, basing on my own experience of working with clients, trying to help readers to use index investing to build a state.
Fans of the book point out that she wasnt boring, and graphs and statistics it is diluted with jokes and practical advice. A collection of speeches and articles Charlie Munger is an American lawyer, economist and professional investor. In a letter to shareholders in 2004, Buffett wrote. “A professional community for far too long tried to find out whether Charlie is the reincarnation of Ben Franklin. The answer to this question is contained in this book”.
One of the most interesting articles included in the book — reasoning “Psychology of human error” in which the author describes the cognitive traps that often confront investors. According to the billionaire, this book is very useful to the investor that “is a rarity”. In his work the founder of Oak Tree Capitals Howard marks told what mistakes he did in the way of the investor, how he coped with them and that I found for myself. In the book, Correa describes the story of three Brazilian entrepreneurs and investors who founded the company 3G Capital, and the management style of their company. Buffett recommended this work in his letter to shareholders in 2014.
Jim Clayton grew up in a family of sharecroppers in Tennessee, and when he grew up, he started his own company Clayton Homes is today one of the largest manufacturers of mobile and modular homes. According to Warren Buffett, it is the biography of Clayton inspired billionaire in 2003 to invest in Clayton Homes. In the same year in his letter to shareholders, the entrepreneur wrote that book he gave his students at the University of Tennessee, and liked it very much. The students also urged him to meet with Kevin Clayton — son of Jim and CEO of the company, — to give him his props. Investing in Clayton Homes, Buffett, by his own admission, was based only on this book and on personal acquaintance with Kevin Clayton.
Arthur Levitt — former Chairman of the Commission on securities and stock exchanges SEC. In his book he describes the scandal in the auditing company Arthur Andersen, which broke out in 2002. In 2002, the Texas court found the employees of Arthur Andersen guilty of destroying thousands of documents related to the audits of one of American energy companies. After that Arthur Andersen refused a license for the right to conduct audits of the financial statements.
This book Levitt, Warren Buffett mentioned in his letter to shareholders in 2002, when he described how fallen standard of performance of auditors in recent years.